China’s central bank has approved foreign exchange purchases for commercial banks to fund increased gold import quotas, according to two sources familiar with the matter. This move comes alongside other stimulus measures, including interest rate cuts and liquidity injections, as China works to offset economic damage from the U.S. trade war. The increased gold imports could help meet growing demand for the precious metal while simultaneously slowing the yuan’s appreciation, which has been rising as investors move money out of U.S. assets. Gold recently reached an all-time high of $3,500 per ounce amid trade tensions, with China’s central bank also increasing its own gold reserves for the sixth consecutive month.

News
War Risk, Stagflation Signals, and a $6,300 Gold Target
Iran’s 8PM deadline looms, oil is above $100, and March jobs data quietly revised away 400,000 positions. JPMorgan sees a buying signal in miners. China just hit an 8-year silver import high. The macro picture is moving fast.




